Retirement Plans Key Terms
Learn retirement plans key terms to make informed decisions about your pension portfolioMost of us depend on professional help when it comes to choosing retirement plans. The subject is steeped in financial lingo that is not part of our everyday vocabulary. This lingo may be hard to bypass since the concepts of retirement planning require some familiarity with key financial terms. If you're shopping around for a retirement plan and aren't sure where to start, your best bet is to learn these key terms so you can make the right choice.
National Institute of Pension AdministratorsThe National Institute of Pension Administrators embodies the agendas of professionals who administer employee pension plans.
Employee Plans NewsEmployee Public News is a magazine devoted to information on retirement plans that is put out by the IRS.
IRS to read about the issues discussed in the Employee Public News and access archived issues.
ERISAPassed as federal law, ERISA is also known as the "Employee Retirement Income Security Act." This act allows the federal government to get involved in the administration of pension plans by private industries.
Department of Labor spells out the minimum standards for private pension plans that the federal government mandates under ERISA. Get information on the kinds of proceedings ERISA requires and the rights it bestows on participants.
Pension Benefit Guaranty CorporationThe Pension Benefit Guaranty Corporation, or PBGC, watches over the retirement plans of millions of individuals employed in the private sector.
Pension Benefit Guaranty Corporation, you'll learn how the PBC is funded, how it pays retirement benefits and how it guarantees benefits.
401(k)A 401(k) retirement plan lets employees decide how much money they want to contribute each month to a plan administered by their employers.
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